Adaptive raises $6.5 million

Adaptive Real Estate, a New York-based startup looking to give construction teams better tools to manage their back offices, has raised $6.5 million in a seed round led by Andreessen Horowitz, with participation from 3KVC, BoxGroup, Exponent, Definition Capital, and several angel investors. This adds to the $750,000 the company raised in pre-seed funding last August.

Founded in 2021, Adaptive’s “artificial intelligence powered platform” automates bills, invoicing, and reporting.

The startup says that insurance is a future product. “In the not too distant future, we’ll be the one stop shop for all financial workflows and products in the industry — from bidding out suppliers to purchasing insurance to banking and working capital.”